Part of the Sakshi group, Bharathi Cement Corp. Ltd has commissioned the first phase of its 5Mt cement plant in Kadapa district of Andhra Pradesh, making the company the newest entrant into an expanding cement market and adding to concerns of a glut as manufacturers step up production of the building material.
Sakshi group, with interests also in media and power, is controlled by YS Jagan Mohan Reddy, the member of Parliament from Kadapa and son of former Andhra Pradesh chief minister YS Rajasekhara Reddy, who died in a helicopter crash on 3 September.
A 2.5Mt, Rs700 crore manufacturing unit has been commissioned in the first phase, according to Harish C. Kamarthy, executive director of Bharathi Cement.
“Work on the second phase of the plant is going on and will be commissioned in the last quarter of FY 2010. The total investment for the 5Mt capacity is Rs1,420 crore,” Kamarthy said.